The coalition of thirty-five civil society organizations, The Nigeria Citizens Action Group (NCAG), has backed the Arewa youth assembly in calling on the CBN Governor, Mr. Godwin Emefiele, to resign.
The group further alleged rising corruption and poor economic growth.
According to the group, Mr. Emefiele has diverted funds meant for equipping the military to fight insurgency in the northeast to fund former President Goodluck Jonathan and the PDP campaign.
Many greedy politicians and other prayer warriors have been arrested and charged by the Economic and Financial Crimes Commission, but Emeifele remains a national treasure.
However, when Mr. Adedoyin Salami, a member of the country’s monetary policy in 2017, cautioned the CBN Governor against the excessive funding of the Federal Government, which was twenty-fold higher than the approved threshold, he refused to take correction. Many sound economists describe Mr. Emefiele’s monetary policy as “reckless and illegal”, which will set the Nigerian economy up for a “big fall”. Indeed! The Big Fall is here. $1 is currently equivalent to over $545.
The Group noted that the CBN acted in error and was guided by the Copy and Paste policy when it included foodstuffs in import prohibition lists despite having the foreknowledge that we largely depended on subsistence farming, which was under serious threat by bandits, terrorists, and farmers/herders crisis in various parts of the country. Currently, Nigerians have been thrown into a state of acute hunger, which is contributing to the rising insecurity in the country.
The Group also emphasized that the CBN, under the supervision of its current Governor, claimed to have carried out several interventions totaling Trillions of Naira, the impact of which can only be felt on paper, not in real life. Many of the failed and corruption-challenged programs of the CBN are not limited to the Anchor-Borrowers program, AGSMEIS, etc.
Recently, the government of the United Arab Emirates arrested, convicted, and blacklisted some Bureau de Change Operators of Nigerian origin who have been linked to global terrorism financing. The money has been passing through the ineffective eyes of the CBN unnoticed into the hands of terrorists. It took the intervention of a foreign government to block such a channel, as the CBN under Mr. Godwin was more concerned with frivolities rather than the general well-being of the country.